Setting Up Payment Profiles

Payment Profiles (PYP) is used to define the criteria by which transactions are selected for payment in Payment Run (PYR) or for settlement in Payment Collection Run (PYC). When you run Payment Run or Payment Collection Run, you select the payment profile you want to use.

You must use different profiles for each type of run. So, at the very least you must define two payment profiles, one for your payment runs and another for your payment collection runs.

A payment profile contains a large number of selection criteria and parameters that allow you to pick particular transactions for payment. As a result, you might define many different payment profiles to meet your payment or payment collection requirements. For example, you might define payment profiles to select transactions by currency or bank, or to select particular groups of accounts.

A transaction must meet all of the selection criteria in a payment profile to be selected for payment.

Note: You can use a control desk to select the transactions for payment and pass them to Payment Run. However, a payment profile is still required by Payment Run to produce the payments as it identifies the payment accounts, and payment output requirements.

Payment profiles are described in more detail in What are Payment Profiles? and their use is also described in How Transactions are Selected for Payment or Collection.

Note:  You need to define separate profiles for Payment Run and Payment Collection Run. However, the details you need to enter to define a payment profile are the same.

Payment Profiles (PYP)

The Payment Profiles form contains the following:

  • Header Information
  • General
  • Payments
  • Options
  • Currency Threshold
  • Additional Currencies
  • Currency Rules.